SBA Awards Over $5.4 Million in Grants to Strengthen Research Funding Across the U.S.

    WASHINGTON (Globe Newswire) — Isabella Casillas Guzman, head of the U.S. Small Business Administration, announced over $5.4 million in funding to 44 awardees through the Federal and State Technology (FAST) Partnership Program. FAST provides small businesses and startups, particularly those in underserved communities, with specialized training, mentoring, and technical assistance for research and development. Grant selectees qualify for award amounts of up to $125,000 each.

    “When we enable equitable access to federal research funding, we empower more of our nation’s entrepreneurs and scientists to translate their cutting-edge ideas into commercial enterprises,” Guzman said. “This is why doubling our funding of FAST grants and expanding the network of awardees is so critical to building a stronger and more inclusive innovation economy that invests in all of our communities.”

    FAST’s objective is to strengthen the competitiveness of small businesses and startups across the country, particularly those from underserved communities to help them benefit from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs. Through FAST, the SBA continues to play a critical role in creating inclusive entrepreneurial ecosystems and helping American entrepreneurs grow their networks and revenue opportunities with new capital, a priority of Administrator Guzman.

    This year’s expansion of the FAST program created 12 additional awards and expands the program’s footprint to 43 states and one U.S. territory. These organizations are led by state and local economic development entities, Small Business Technology Development Centers, Small Business Development Centers, Women’s Business Centers, Procurement Technical Assistance Centers, incubators, accelerators, colleges, and universities. The expanded reach of the program builds on the success of previous FAST cohorts. With $4 million in funding in fiscal year 2021, FAST helped small businesses to win over $88 million in SBIR and STTR awards, a 22:1 return for every taxpayer dollar spent.

    The FAST program provides awards for a base period of 12 months, plus four optional continuation periods of 12 months each. Thirty-two FAST awardees from the 2021 cohort were also selected for second or third-year funding. The FAST grantees are as follows:

    2023 Cohort – First Year

    AlaskaUniversity of Alaska
    FloridaFlorida High Tech Corridor
    IdahoIdaho State University
    IndianaIndiana Economic Development Corporation
    IowaIowa State University of Science
    MaineMaine Institute of Technology
    MinnesotaMNSBIR, Inc.
    MichiganBBC Entrepreneurial Training & Consulting
    New JerseyNew Jersey SBDC
    North DakotaUniversity of North Dakota
    UtahUtah Innovation Center
    WashingtonLife Science Washington Institute

    2023 Cohort –  Second Year

    ArizonaArizona Commerce Authority
    GeorgiaInnovation Gateway at the University of Georgia
    KentuckyKentucky Science and Technology Corporation
    LouisianaLouisiana Business & Technology Center/LSU
    MissouriMissouri Small Business Development Center
    Puerto RicoPuerto Rico Small Business and Technology Development Centers
    South DakotaSouth Dakota Biotech Council
    TennesseeLaunch TN
    WisconsinCenter for Technology Commercialization

    2023 Cohort –  Third Year

    ArkansasUniversity of Arkansas at Little Rock- Arkansas SBTDC
    ColoradoColorado Small Business Development Center
    ConnecticutConnecticut Innovations, Inc.
    DelawareDelaware Small Business Development Center
    HawaiiHawaii Technology Development Corporation (HTDC)
    IllinoisEnterpriseWorks at the University of Illinois
    KansasWichita State University
    MarylandMaryland Technology Development Corporation (TEDCO)
    MississippiInnovate Mississippi
    MontanaMontana State University TechLink Center
    NebraskaNebraska Business Development Center, University of Nebraska at Omaha
    New HampshireUNHInnovation
    New MexicoArrowhead Center at New Mexico State University
    North CarolinaFirst Flight Venture Center, Inc.
    OhioOhio Aerospace Institute
    OklahomaOK Catalyst
    PennsylvaniaBen Franklin Technology Partners Corporation
    South CarolinaUniversity of South Carolina
    TexasSWTXB SBDC Technology Commercialization Center
    VirginiaVirginia Innovation Partnership Corporation
    West VirginiaTechConnect West Virginia
    WyomingUniversity of Wyoming Small Business Development Center